February volumes continue to be reported by a large number of dealers as lower over January, with Thomson Reuters the

According to data released by Thomson Reuters today for its foreign exchange related trading businesses including Dealing, Matching and Reuters Trading for FX, FXall’s average daily FX Spot volume for February tapered slightly from January’s totals.

Average daily volume (ADV) traded on Thomson Reuters’ relationship trading platform FXall for the month of February 2014 was $122 billion (single count).

This figure represents a 10% increase year-over-year (YoY), but was down slightly by $1 billion from $123 billion in January 2014, a drop of barely 8 tenths of a percent month-over-month (MoM), as FX volumes appeared to have tapered for a large number of dealers and retail firms last month – when compared to January.

February Volumes Lower as Shorter Month Blamed for Decrease

On the company’s other FX trading product lines, average daily FX Spot volume for the month of February 2014 was $113 billion (single count) as traded on Thomson Reuters’ Dealing, Matching and Reuters Trading for FX.

This represented a MoM drop of $5 billion from $117 billion in January to $113 billion in February, or a 2.4% decrease over that time. However, when compared YoY, the drop was more pronounced than 17.5% from last February’s total of $137 billion, which dipped by $24 billion to $113 in February this year.

Phil Weisberg, Global Head of Foreign Exchange at Thomson Reuters, commenting in the official press release said, “Trading volumes on Thomson Reuters’ venues remained steady through February which was a slower month due to fewer trading days and Chinese New Year.”

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Mr. Weisberg added regarding volumes in the Chinese currency that rose to new records on the company’s matching platform, “As with the rest of the market, we saw continued strong performance in CNH which became the 2nd most traded pair by volume on our Matching platform.”

Highlights for the month included a record single day for CNH trading volume that was reached on Thomson Reuters Matching on Friday the 21st of February.

Earlier today Forex Magnates covered the launch of Thomson Reuters’ announcement of a new subsidiary to govern benchmarks ahead of a regulatory deadline.

The company has been focusing heavily on streamlining its many product lines, including upgrading its newer platforms such as Eikon. This is helping to consolidate the wide number of options available in several key offerings as older products are phased out after integration and the few remaining products are highly concentrated to cover all of its offered services.

Additional coverage by Forex Magnates followed above, after initial publication.